5054 S Rainbow Boulevard 104, Las Vegas, NV 89118, Las Vegas, 89118 - 1 bed, 1 bath
5054 S Rainbow Boulevard 104
Las Vegas, NV 89118
Property Price
SUMMARY
Analysis of 5054 S Rainbow Boulevard 104, Las Vegas, NV 89118 is currently available with a list price of $179,900. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Las Vegas Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1987, this property is well-maintained and features some desirable updates like granite countertops and a gas fireplace. However, it fits the 'fair' criteria as it is nearly 40 years old and, while move-in ready, it lacks a comprehensive recent renovation of all major systems, cabinetry, and fixtures to meet modern 'excellent' or 'good' standards. It represents a typical aged but functional unit with occasional updates.
PROSSTRENGTHS & OPPORTUNITIES
- Modern Interior Finishes
The unit features desirable upgrades including granite countertops and a cozy gas fireplace, complemented by soaring 9-foot ceilings that create a spacious, airy feel.
- Enhanced Outdoor Living
Unique for a one-bedroom floor plan, this condo offers two private balconies, significantly increasing the functional living space and providing multiple areas for relaxation.
- Competitive Price Point
Listed at $184,500 with a modest $205 monthly HOA fee, this property represents an accessible entry point for first-time buyers or a high-yield opportunity for investors.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Originally built in 1987, the property may require more frequent maintenance or updates to major systems compared to newer developments in the Las Vegas area.
- Limited Bedroom Count
As a one-bedroom unit, the property has a narrower target market, which may impact long-term resale flexibility compared to multi-bedroom alternatives.
About 5054 S Rainbow Boulevard 104
Spacious 1-bedroom, 1-bath condo featuring soaring 9’ ceilings and abundant natural light throughout. The open living area includes a cozy gas-burning fireplace and large windows that enhance the bright, airy atmosphere. The kitchen is appointed with granite countertops and comes complete with all appliances included. Enjoy outdoor living with two private balconies, perfect for relaxing. A fantastic opportunity offering comfort, style, and convenience!
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1987
- Lot Size
- 5,545 Sq. Ft.
Interior
- Total Bedrooms
- 1
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $205 / Month
Neighborhood Insights
Las Vegas Unified Schools
Marion B Earl Elementary School
Grades PK-5 • 0.2 mi
Grant Sawyer Middle School
Grades 6-8 • 0.5 mi
Durango High School
Grades 9-12 • 0.5 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 2.0 | 33% |
| Baths | 1.0 | 2.0 | 34% |
| Square foot | 841 | 1,053 | 30% |
| Lot Size | 5,545 | - | 72% |
| Price | $179.9K | $172.0K | 51% |
| Price per sq ft | $214 | $196 | 62% |
| Built year | 1987 | 1994 | 17% |
| HOA | $205 | $220 | 45% |
| Days on market | 16 | 570 | 1% |
Pricing History
Listed for Sale
Mar 4, 2026
$179,900
$184,500
-2% Price Drop
Initial Listing
Price Change
Feb 19, 2026
$184,500
Initial Listing